Tourist trips, or pilgrimages and their age, things that elderly people or those over the age of pension may want. Egyptian banks provide a number of personal loans that are taken with a pension guarantee, and in some banks reach 1.5 million pounds.
As part of its services provided to readers, Al-Watan reviews some of the banks that provide personal loan services to individuals, including the pension guarantee loan.
Ahli Bank
The National Bank provides privileged loans to pensioners that suit their circumstances, needs and benefits.
Advantages of the loan with a pension guarantee
The request to obtain approval for the loan does not take a long time, but can only be obtained within 72 hours.
Competitive price and low administrative expenses.
The client who obtained the loan can transfer his debt to another bank if requested to do so.
Obtaining a life insurance policy until the loan ends.
The maximum limit for obtaining a pension guarantee loan is 750 thousand pounds.
Customers are given a choice of 6-month and 60-month payment terms.
Conditions for obtaining the loan
The applicant must have a fixed pension.
– The minimum pension should not be less than 1750 Egyptian pounds.
Proof of residence, such as a receipt for gas, water or modern electricity.
Submit a copy of the national ID card and a recent statement of the applicant’s pension terms.
Egypt Bank
The bank requires that a letter addressed to it be submitted by the client’s insurance authority, with the value of the monthly pension. The customer also undertakes to transfer the pension to the bank until the last installment of the loan is paid.
Loan documents
– The bank requires the customer to provide a copy of the national number, and to deliver a recent escort.
Provide a life insurance policy against the death of the client.
The insurance policy obliges the insurance company to pay the remaining loan installments to the bank if the customer dies.
The value of financing ranges between 5 thousand pounds and 500 thousand pounds.
To obtain a high loan, the pension must cover the cost, or provide proof of other income for the customer to obtain the maximum loan.
– The repayment period ranges between a maximum of 6 months and 8 years.
– The interest rate is 16.5%, decreasing.
Conditions for applying for a pension guarantee loan
The client’s age does not exceed 65 at the last loan installment.
– The minimum pension value should be 500 pounds.
Bank of Alexandria
The Bank of Alexandria allows Egyptians with a pension to obtain a loan with its guarantee.
Benefits of a pension loan
The term of financing is up to 12 years.
The loan amount reaches 1.5 million pounds.
Life insurance includes the length of the financing free of charge.
Required documents for loans
A copy of the national ID card.
Undertaking to transfer the pension to the Bank of Alexandria.
A recent utility bill, “gas – electricity – phone”, which does not exceed 3 months.
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